Ashoka Buildcon Arm Gets Rs1382Cr Contract From NHAI; Stock Up

Ashoka Buildcon Limited (ABL), vide its corporate filings to NSE, BSE on Monday states, that further to the announcement made on Feb21, 2019, its subsidiary, Ashoka Concessions Limited received Rs1382-Crore highway construction contract from NHAI or National Highways Authority of India, for the Project at Tumkur – Shivamogga Section from 170.415Km to 226.750Km from Bettadahalli Shivamogga on Hybrid Annuity Mode (HAM) under Bharatmala in Karnataka.

Shares of Ashoka Buildcon Limited gained about 3percent after its subsidiary was awarded highway construction contract from NHAI. The stock hit an intraday high of Rs139, rising 3 percent on the NSE. At 1:50 PM, the scrip was trading at Rs137.35 up 2.54-percent. Meantime, the NSE benchmark Nifty50 traded at 11,162-mark up by 127-points and the Sensex quoted at 36996-mark up 324-points.

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